Belk Inc. got a good sales gain during the first quarter but the bottom line fell 30 percent due to increased promotions and investments in new strategies.
Net income for the quarter ended May 4 reached $28.2 million, compared to $40.3 million in the year-ago period, while net sales increased 5.1 percent to $956 million and comparable-store sales gained 5.2 percent. E-commerce sales grew 67 percent over the same prior-year period. Online sales positively affected comparable-store sales by 1.6 percent in the quarter.
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
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